Lagarde speech: ECB will cut rates soon, barring any major surprises
Source Fxstreet
In an interview with CNBC on Tuesday, European Central Bank (ECB) President Christine Lagarde said that the ECB will cut rates soon, barring any major surprises, per Reuters.
"Subject to no development of additional shock, it will be time to moderate restrictive monetary policy in reasonably short order," Lagarde added and said that they are observing a disinflationary process that is moving according to the expectations.
She further noted that geopolitical events' impact on commodity prices are not very significant so far.
Market reaction
EUR/USD came under modest bearish pressure with the immediate reaction. At the time of press, the par was virtually unchanged on the day at 1.0627.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Gold price (XAU/USD) loses ground after registering gains in the previous day, trading around $4,050 per troy ounce during the Asian hours on Tuesday.
Oil prices remain depressed on Tuesday, as hopes of a new round of peace talks between the US and Iran boosted hopes of a de-escalation of the Middle East conflict.
